Study says George Mason University has $1.56 billion economic impact on Virginia

George Mason University had an economic impact of $1.56 billion on the state economy last year, according to a study by university researchers.

In Northern Virginia alone, the school generated $1.14 billion for the regional economy and employed more than 11,600 people, says a report by GMU’s Center for Regional Analysis.

In addition to its main campus in Fairfax County, GMU has campuses in Prince William and Arlington counties plus a teaching site in Loudoun County. The university has 32,500 students, 62 percent of whom are enrolled full time.

In addition, the Mason Enterprise Center, a business incubator with four locations in Northern Virginia, helped create or retain about 10,000 jobs in the state in 2011, the study says.

The university has spent more than $700 million on the expansion and renovation of facilities throughout the region during the past five years.

The study found that GMU students spend an average of $736 a month—$8,800 a year—in the local economy.